Ithaca Energy has agreed to acquire Marubeni's oil and gas assets in the North Sea for about $1 billion, industry sources told Reuters on Sept. 13.
The owner Ithaca, Israeli energy company Delek Group, said last year it wanted to list the North Sea-focused energy company.
Several other Japanese energy and trading firms are also seeking to exit the ageing North Sea basin.
Ithaca Energy and Marubeni declined to comment.
Marubeni's main oil and gas asset in the North Sea is its 41.03% stake in the Montrose Area, which includes the Montrose, Arbroath, Arkwright, Brechin, Wood, Godwin, Shaw and Cayley fields, operated by Repsol Sinopec Resources U.K.
Ithaca, which produced about 56,000 barrels of oil equivalent per day in the first half of 2021, said in August it had refinanced a $1.225 billion reserve based lending facility and placed a $625 million bond "to continue to pursue business growth ambitions".
Japan's JX Nippon also wants to sell its British North Sea oil and gas assets including stakes in some of the basin's biggest fields in a deal that could fetch up to $1.5 billion, sources said in May.
Diversified Gas & Oil, known as DGO, expects to acquire over a hundred unconventional producing gas wells in the Appalachian Basin from a proposed transaction with HG Energy.
Murphy Oil plans to use proceeds from its Malaysia exit to PTTEP for share buybacks as well as funding Eagle Ford Shale and U.S. Gulf of Mexico operations.
Denbury Resources and Penn Virginia mutually agreed to terminate their merger after the $1.7 billion cash-and-stock transaction faced difficult market conditions and shareholder opposition.